INDIA

Capital / Liquidity

HKMA Imposes Enhanced Supervisory Arrangements on Indian Bank Branches

By JP Reimann | 14/06/2018

Due to capital deficiencies, the Hong Kong branches of Allahabad Bank, Punjab National Bank and Indian Overseas Bank must hold HQLA equivalent to 100% of unpledged deposits and should not solicit customer deposits, among other measures.

AML / KYC

GIFT City Exchanges Launch Omnibus Account Structure

By Manesh Samtani | 14/06/2018

BSE’s India INX and NSE IFSC have launched the segregated nominee account structure, allowing foreign investors to avoid direct FPI registration and instead trade Indian equities through established intermediaries.

Market Infrastructure

SEBI Mulls Allowing Indian Firms to List Shares Overseas

By Garima Chitkara | 13/06/2018

Securities regulator considering allowing Indian firms to directly list equity abroad and foreign firms to list in India.

Securities / Derivatives

NSE Launches Tri-party Repos on Corporate Bonds

By Garima Chitkara | 13/06/2018

Tri-party repo will facilitate greater secondary market liquidity in the India’s corporate bond market; platform will initially allow basket repos with maturities between one and seven days.

Capital / Liquidity

RBI Continues to Allow Banks to Spread Bond Losses Over Four Quarters

By Garima Chitkara | 11/06/2018

RBI has allowed banks to spread bond trading losses incurred in the April-June quarter over four quarters, but changes rules on valuation of state government debt.

Securities / Derivatives

SEBI Probes Leaked List of Companies Under Enhanced Surveillance

By Garima Chitkara | 11/06/2018

SEBI alleged that a list of 37 companies that were under the regulator’s Additional Surveillance Measure was leaked before the public announcement was made by the BSE.

Securities / Derivatives

SEBI Unveils New Requirements for Funds to Boost Retail Investment

By Garima Chitkara | 07/06/2018

India’s markets regulators has slashed total expenses by 15 basis points to encourage more retail investors to buy mutual funds; also requiring increased disclosures on fund expenses.

Fintech / Regtech

Singapore, India Establish Joint Working Group on FinTech

By Karen Chiu | 06/06/2018

Joint working group to foster closer fintech cooperation, including through real-time cross border fund transfers and links between payment system operators.

Capital / Liquidity

India Bank Employees Challenge RBI Loan Provisioning Norms

By Garima Chitkara | 04/06/2018

Organisation representing bank employees filed a writ against RBI February circular on provisioning norms which has resulted in heavy losses at public sector banks